Rupee chart(weekly Chart). i have indicated in my earlier updates on rupee that we have all the chances of seeing a new high in rupee and it seems that we have now started the up move and it clearly seems that in coming weeks we have all chances of seeing a new high. Will it happen before budget it seems to be so. The elliott wave analysis of rupee is indicated in the above chart. i would explain it in details in a day or two. But as of now it appear that we are in the fifth wave of the third of the third and there is long way to go before the third wave is completed. This week we have closed at 52 week high and today also we have again closed at a new 52 week high which generally is a bullish sign for USD.  The USD index is also making multi year high, i have indicated it in September that we have all chances of seeing 90 first then 96 and then 102 we have now achieved the first target and it would be a matter of time before a 96 is achieved.USD index is on verge of making a 12 year high not a mean feat. All this is indicating that the world currencies are depreciating against USD and rupee would also follow the suit and it appears the up move is USD is going to gain momentum which would surprise every body by the pace of the move against the rupee. So we can expect a new high in rupee in coming weeks or months.

May all be Peaceful and Happy

Mahiidar M

Enjoying Life

Trend is Friend.